Option One Mortgage

We were verbally quoted a loan modification program in mid-February after submitting all the necessary documents and now were told that since we were not late, we were denied. This company is HORRIBLE at communicating. They also suspended my online payment options with no explanation.

Option One has no motivaation to modifying loans by borrowers that are on-time. Once you become late, you can never qualify for an FHA refinance, which are the only programs being approved right now. So what they want is for you to become essentially dependent on them for all future loan payments. Any if you have a high interest rate or are resetting to a higher rate, this is on-time interest income for them, especially since they are being bought out right now.

Has anyone gotten a loan mod through these liars? And has anyone had any help by hiring a lawyer?

American Home Mortgage Servicing Inc (formerly Option One) was working with me to modify my loan. Our funder is Wells Fargo. I tried to modify the first time and was told the investor was not modifing any loans. Was called about 3 weeks later and was told they were doing modifications on a case by case basis. I wired $500.00 to start the process. I was called Friday and told that I was denied because it wasn't "escalated enough". I was told that escalated meant that because I hadn't contacted the Attorney General or the media they were not going to proceed. WHAT???? That is the most utterly ridiculous thing I have ever heard. What the heck does the media have to do with my loan getting modified? I have a good credit score and a perfect pay history. They want me to FORCE them to modify this loan. They have no idea who they are dealing with. Anybody else been told this? ITS CRAZY!!